Philippines Should Work With China on Stalled Gas Project, Tycoon Says

A Philippine tycoon said partnering with China may be an option in the development of a new gas field in an area of the South China Sea where the two nations have competing maritime claims.

“My personal view is we should engage China,” PXP Energy Corp. Chairman Manuel Pangilinan told reporters on Wednesday. “Look at what Mark Carney did for Canada.” Shares of PXP Energy jumped more than 13% on Thursday, the most in a month, with traded volume at over 400% of the daily average in the past three months.